Markets
Bitcoin Returns Toward $60K, XRP Defy Negative Sentiment (Market Watch)
Bitcoin price failed to maintain its positive performance in the past few days and bears managed to push it back towards the crucial $60,000 level.
Now all eyes are on it, as there is one cryptocurrency that is defying the otherwise negative sentiment over the last 24 hours.
Bitcoin Price Drops Towards $60,000
Bitcoin price failed to continue the rally that started at the start of the week and is now pushing towards $60,000. At the time of writing, the leading cryptocurrency is trading at $60,700, down 3% on the day and 1.4% on the week.
As you can see from the chart above, the price dropped within a few hourly candles on July 3, finding some sort of support at current levels.
It is important to see whether this situation will last or whether the bears are determined to push BTC below the psychological and technical tipping point of $60,000.
Altcoins Suffer, but XRP Price Remains High
Most of the large-cap altcoins are trading in the red. Examples include Ethereum, which is down almost 3%, BNB – down 2.2%, SOL – down 1%, DOGE – down 1.4%, PEPE – down 5.6%, and so on.
There are some, however, that have managed to stem the fall and have remained stable. One of them is XRP. The main reason why XRP is trading in the green is associated with a update regarding the case between Ripple and the United States Securities and Exchange Commission.
The company recently filed a supplemental notice of clearance regarding a decision involving cryptocurrency exchange Binance.
Essentially, last week, Judge Amy Jackson rejected the regulator’s claims that secondary market sales of BNB constituted securities transactions.
In turn, Ripple Labs is trying to use this to their advantage, claiming that it supports their cause. It will be interesting to see how the case will end and whether Ripple will win or not.
SPECIAL OFFER (sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive $600 welcome offer on Binance (full details).
LIMITED OFFER 2024 on BYDFi Exchange: Up to $2,888 Welcome Reward, use this link to register and open a 100 USDT-M position for free!
Disclaimer: The information found on CryptoPotato is that of the authors cited. It does not represent CryptoPotato’s views on the advisability of buying, selling, or holding any investment. We recommend that you conduct your own research before making any investment decisions. Use the information provided at your own risk. See Disclaimer for more information.
Cryptocurrency Charts by TradingView.